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October 10, 2017 01:08 GMT
###POV $1.3656-1.3833 Key For LT........>
CABLE TECHS
CABLE TECHS: ###POV $1.3656-1.3833 Key For LT Traders
*RES 2: $1.3833 - Monthly Low Feb 29 2016
*RES 1: $1.3656 - 2017 High Sept 20
*PRICE: $1.3145 @ 0110GMT
*SUP 1: $1.3032 21-WMA
*SUP 2: $1.2587 Monthly Low June 21
###POV: The LT falling TL off $1.7191 2014 highs capped the recovery from 2017
lows ($1.1979) with pressure now on the 21-WMA. LT bears look for a close below
the 21-WMA to add weight to the case for a deeper sell-off. Overall the $1.2587
support is key with LT bears needing a close below to confirm a break of the
55-WMA ($1.2703), shift initial focus to $1.1979 and overall focus to tests of
2016 lows.
- The $1.3656-1.3833 resistance region is key for LT traders. LT Bulls look for
a close above $1.3656 to confirm a break of the LT falling TL ($1.3601) and
above $1.3833 to end bearish hopes and shift focus to $1.4629-1.5018 where the
200-WMA is situated. Click for chart https://tinyurl.com/y7xhm4ch
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